On behalf of the advisor of the Custodian of the Two Holy Mosques and Prince of Makkah region, HRH Prince, Khalid Al-Faisal, the Jeddaah Governor HRH Prince Mashal bin Majid Abdulaziz inaugurated on Sunday the First Saudi Startup Forum organized by Makkah TechnoValley Co. (Wadi Makkah) and UQU from 15-17th Safar, 1439 H. The event took place in partnership with the leaderships concerned with the national Vision 2030 objectives.

His highness then cut the ribbon of the accompanying fair and viewed the entrepreneurial ideas exhibited by startup owners, then visited the business incubators and accelerators and checked the Tawaf Clock, a Wadi Makkah product, Made in Makkah.

The ceremony commenced with recitation of verses from the Holy Quran.

Starting his speech, the UQU President, Head of organizing panel and Chairman of Wadi Makkah Co, Dr. Bakri Matuq Assas, welcomed sponsors and attendance, "I'm delighted to welcome all of you to this forum that reflects the effective role of engagement and knowledge growth that our country plays thanks to its religious status and international leadership in reign of the Custodian of the Two Holy Mosques, HRH King Salman bin Abdulaziz,"

Assas confirmed the importance the government attached to higher education in general and scientific research in particular with regard to transforming researches into innovative products to reinforce knowledge economy. He pointed out that UQU has embarked on technical innovation with the establishment of the Institute of Innovation and Entrepreneurship, Intellectual Property Office, and research centers.

Assas continued, "At UQU, we believe that accomplishment isn't limited to study and learning but it extends to making a great use of such education our 7000 faculty members offer to over 120 thousand students,"

He added, "Out of recognizing the importance of investment in minds and UQU's geographical duty, six years ago, a Royal Decree was issued to found Wadi Makkah Co. to be UQU's gate to local and international markets and establish a model for transformation to knowledge economy,"

The UQU president maintained that Wadi Makkah Co. has invested in youth intellects out of firm belief that ambitious youth are the true wealth, noting that UQU has introduced an example of supporting innovative startups in the field of scientific research.

He went on to say, "Eight years back, we launched startups that provided innovative technologies created by our youth, and accomplished notable success through selling their products to both public and private sectors,". Afterwards he reiterated that startup aspirations are not only limited to local market as those startups managed to hold supply agreements and partnerships with a number of companies in neighboring countries, in addition to success in drawing foreign investments, which reflects the success of commercial transformation at UQU through Wadi Makkah co.

Assas noted that UQU Wadi Makkah Co. launched this forum in light of the kingdom's vision in respect of SMEs and entrepreneurship support, to connect hundreds of entrepreneurs and startup owners with investors and funders to sustain their projects; drive the force of growth; and attract local and international experts for experience exchange.

He said he was hopeful with regard to the forum contributing to sustained growth objectives and creation of job opportunities. The forum accommodates innovation and facilitates a positive environment for entrepreneurship and creative youth to improve their skills. It also helps entrepreneurs to market their business and compete for achieving added value to national economy.

Concluding his speech, Assas extended thanks to the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, his Crown Prince, Prince Mohamed bin Salman, may Allah protect them, HRH Prince of Makkah region, Jeddah Governor, and Minister of Education, Dr. Ahmed bin Mohamed Al-Issa.  He also thanked the organizing committee represented by the UQU Vice-president for Development and Entrepreneurship and the Vice-chairman of Wadi Makkah Co., Dr. Hani bin Othman Ghazi, and Wadi Makkah Co. CEO, Dr. Faisal bin Ahmed Allaf. Later, attendance watched the documentary specially created for the Saudi Startup Forum.

At the end of the ceremony, HRH Prince, Masha'l bin Majid Abdulaziz honored sponsors of the forum and received a souvenir from the UQU President to commemorate the event.